Question
March 1 Brooks invested $185,000 cash along with $22,000 in office equipment in the company in exchange for common stock. 2 The company prepaid $7,000
Brooks invested $185,000 cash along with $22,000 in office equipment in the company in exchange for common stock.
2The company prepaid $7,000 cash for six months' rent for an office. (Hint:Debit Prepaid Rent for $7,000.)
3The company made credit purchases of office equipment for$3,400and officesupplies for $2,000. Payment is due within 10 days.
6The company completed services for a client and immediately received$5,000cash.
9The company completed a $9,200 project for a client, who must pay within 30days.
12 The company paid $5,400 cash to settle the account payable created on March 3.19The company paid $6,800 cash for the premium on a 12-month insurancepolicy. (Hint:Debit Prepaid Insurance for $6,800.)
22The company received $4,200 cash as partial payment for the work completed on March 9.
25 The company completed work for another client for $4,030 on credit.29 The company paid $6,300 cash in dividends.30 The company purchased $500 of additional office supplies on credit.31The company paid $1,500 cash for this month's utility bill.
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